It jumped 16% during Thursday's session! Rumor has it that Shiba Inu coin will soon be available on Robinhood

Shiba Inu coin jumped 16 percent intraday on Thursday local time on market rumors that the cryptocurrency is about to hit Robinhood shelves.

A tweet on financial blog ZeroHedge read, "Shiba Inu coin is rumored to be hitting Robinhood as early as February of this year," although Robinhood did not respond.

As the 13th largest cryptocurrency in the world by market capitalization, Shiba Inu coin has been on a downward trend in recent months. Since reaching an all-time high of $0.00008 in October 2021, the Shiba Inu coin price has fallen by more than 60% cumulatively.

Last October, Robinhood (NASDAQ:HOOD) CEO Vlad Tenev had denied that Shiba Inu coin would be on Robinhood's shelves. "It goes back to the principle of safety first, we're generally not the first to shelve a new asset class, we want to make sure it has passed a series of rigorous reviews." He said in a media interview.